Oahu home and condo sales surge in November 2017

Oahu home and condo sales surge in November 2017. The Honolulu (Oahu) Real Estate statistics show that even during the typical slow Fall season, the market remains robust in November. This is shown in the Oahu real estate statistics for the month of November 2017, which were released today. According to the analysis by the Honolulu real estate board, using data collected from its computerized Multiple Listing Service (MLS) system, the Oahu island housing supply and statistics are:

Oahu (Hawaii) Single-Family Home Re-sales

Number of Oahuhome sales

This MonthCompared To

Median* home sales price Oahu

This Month Compared To

Nov 2017

332

$773,500

Nov 2016

294

+12.9%

$750,000

+3.1%

Oahu Condominium Re-sales

Number of Oahucondo sales

This MonthCompared To

Median* Sales Price Oahu

This Month Compared To

Nov 2017

501

$405,000

Nov 2016

421

+19%

$395,000

+2.5%

*Median price means half the prices were above and half below the given price.

Oahu Median condo sale prices hit record high in November 2017

During November, the median price paid for single-family homes increased by 3.1% year over year to $773,500. The median price for condominiums increased by 2.5% percent from last year to $405,000. Sales of single-family homes increased by 12.9 percent year over year, while condominium sales increased by 19 percent from November 2016. According to the Days on Market indicator, single-family homes and condos were both on the market for 16 and 20 days, respectively.

Malia’s comments

“Typically, November is among the slower months of the year in our market. Therefore it is remarkable to see these incredible surges in the number of sales numbers for in both homes and condos. Both housing types are still bumping along the top of their median sales prices. Also, the continued low days on market figures show just how low the available inventory is and the strong demand for housing. ”